Transitional Credit — Authority for Advance Ruling — The Applicant is engaged in the activity of Industrial and Commercial construction. The applicant has sought an advance ruling as to (i) whether Credit of Uttarakhand VAT Paid on construction material such as cement, sand, steel etc, held in closing as on 30.06.2017 is allowed to be carried forward as transitional credit as Uttarakhand GST under GST regime; if yes, then whether it is allowed when the assessee had opted for composition scheme under Uttarakhand VAT laws.
Held that:- The Hon’ble Authority for Advance Ruling held that since the applicant was availing the benefit of composition scheme under the Uttarkhand VAT laws, the provisions of section 146(6) for availing transitional credit get attracted. Therefore, if the applicant fulfills all the 5 conditions as enumerated within the provision of section 146(6), he will be eligible for ITC of transitional credit.—National Construction In Re….. — [2018] 2 TAXLOK.COM 018 (AAR-Uttarakhand)